Sears's Stock Rises After Same-store Sales Reported

Sears Holdings' stock rallied 5.8% in premarket trade Friday, after the department store chain reported a smaller-than-expected decline in fiscal third-quarter same-store sales. In a filing with the Securities and Exchange Commission, the company said total same-store sales slipped 0.1% from the year-earlier period, with a 0.7% decline in Sears domestic sales offset by a 0.5% rise in Kmart sales. The one analyst submitting an estimate to FactSet was expecting a 1.6% drop. The decline in Sears domestic sales was attributed to weakness in consumer electronics, apparel and auto center sales, while Kmart's sales rise was a result of strength in apparel, outdoor living and toys. Separately, Sears said it continues to actively explore the monetization of some of its real estate assets. Sears's stock has lost 18% so far this year through Thursday, compared with a 9.9% rise in the S&P 500.

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